IoD response to interim Macrory Report on Penalties

Business Leaders still waiting for Better regulation agenda results

22 May 2006

Commenting in response to the Macrory Regulatory penalties review interim report, Director General of the Institute of Directors (IoD) Miles Templeman said:

“We are pleased to see the emphasis on a more constructive regime that concentrates on changing future behaviour rather than simply penalising businesses for punishment’s sake.

“We would still like to see a clearer recognition that a tougher regime for persistent rogue traders should be balanced by a lighter-touch approach for good businesses that find themselves non-compliant through oversight or accident. Responsible businesses will respond well to a constructive approach, but they need carrots as well as sticks.

“Ministers must also inject some more urgency into this process – and into the Better Regulation agenda as a whole. Many of the current initiatives are welcome, but our members are still waiting to see results.”